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An MBA in consulting teaches students to refine the strengths that consulting firms will be on the lockout for, such as business problem solving, communication, corporate strategy skills and analysis of business situations and issues.
What You Need to Study an MBA in Consulting
Each consulting-tailored MBA program will have different requirements. Generally, most b-schools will require the following:
Three to five years of professional experience (although this can vary)
An undergraduate degree
A good GMAT/GRE score
Employers’ recommendation
MBA in Consulting – Course Content
MBA programs tend to feature consulting classes both in the core curriculum and through electives, which will help you fine-tune your unique strengths and business acumen.
Generally, consulting MBA students will take some or all of the following courses:
Consulting
Business Strategy
Asset Valuation
Business Communication
Business Ethics
Supply Chain Management
Negotiations
Corporate Strategy
Innovation Management/Strategy
Organizational Behavior
Financial Accounting
Quantitative Analysis
Operations Management
MBA in Consulting – Cost
Costs for a full-time MBA with a consulting specialization at a top 10 school vary from US$60,000 to over US$140,000.
INSEAD has been ranked as the best business school in the world for specializing in consulting. The INSEAD MBA program is split between their Fontainebleau (France) campus and their Singapore campus, giving students a global experience. The complete top 10 can be found below:
One of the big questions you’ll ask yourself is whether you’d like to work for a large or small consulting firm. Both firms have advantages and disadvantages – a con for you may be someone else’s pro – and require different skills, with regards to consulting and interpersonal skills.
Large firm
There are typically more offerings of companies to work for within the network of large firms, as well as, higher salaries, upward mobility, the chance to manage other consultants, and the opportunity with household name brands.
All positives yes – but with those perks come longer hours, hectic schedules, lots of frequent (if not constant) travel and relocation (national and international) and typically higher stress levels.
Small firm
Smaller consulting firms are like any other small business where employees are required to be multitalented, highly functional, and motivated.
Consultants in small firms need to be competent enough to find their own work, act as accountants, work in sales, marketing, and strategy alongside their bread and butter consulting work.
Depending on the sector, the agency itself and its relationships, your workload may not be consistent. But this could be a positive as you may have a more flexible personal schedule, travel less, and enjoy a closer, more personal relationship with clients.
Salaries
Consultants play a fundamental role in all types of businesses, leading to generally high salaries and bonuses.
Here are some of the top-tier consulting positions with the highest average salaries you could land after your MBA, according to Indeed research:
Business Consultant: US$71,853
Consultant: US$74,997
Management Consultant: US$84,642
Financial Consultant: US$88,497
Systems Consultant: US$93,956
Senior Consultant: US$98,468
Top Firms Hiring Consulting MBAs
If a successful career at a top consulting firm is your goal, here are the firms you should consider sending your application to:
Most of the world’s top consulting firms are located in North America – particularly the US – and Europe, with France and the UK at the forefront of the sector.
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MBA in Consultancy
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What is an MBA in Consulting?
An MBA in consulting teaches students to refine the strengths that consulting firms will be on the lockout for, such as business problem solving, communication, corporate strategy skills and analysis of business situations and issues.
What You Need to Study an MBA in Consulting
Each consulting-tailored MBA program will have different requirements. Generally, most b-schools will require the following:
MBA in Consulting – Course Content
MBA programs tend to feature consulting classes both in the core curriculum and through electives, which will help you fine-tune your unique strengths and business acumen.
Generally, consulting MBA students will take some or all of the following courses:
MBA in Consulting – Cost
Costs for a full-time MBA with a consulting specialization at a top 10 school vary from US$60,000 to over US$140,000.
INSEAD has been ranked as the best business school in the world for specializing in consulting. The INSEAD MBA program is split between their Fontainebleau (France) campus and their Singapore campus, giving students a global experience. The complete top 10 can be found below:
1) INSEAD
2) London Business School
3) MIT Sloan School of Management
4) Columbia Business School
5) The Kellogg School of Management
6) The Wharton School
7) The University of Chicago Booth School of Business
8) Michigan Ross School of Business
9) NYU Stern School of Business
10) The Fuqua School of Business
Top Careers to Pursue with an MBA in Consulting
One of the big questions you’ll ask yourself is whether you’d like to work for a large or small consulting firm. Both firms have advantages and disadvantages – a con for you may be someone else’s pro – and require different skills, with regards to consulting and interpersonal skills.
Large firm
There are typically more offerings of companies to work for within the network of large firms, as well as, higher salaries, upward mobility, the chance to manage other consultants, and the opportunity with household name brands.
All positives yes – but with those perks come longer hours, hectic schedules, lots of frequent (if not constant) travel and relocation (national and international) and typically higher stress levels.
Small firm
Smaller consulting firms are like any other small business where employees are required to be multitalented, highly functional, and motivated.
Consultants in small firms need to be competent enough to find their own work, act as accountants, work in sales, marketing, and strategy alongside their bread and butter consulting work.
Depending on the sector, the agency itself and its relationships, your workload may not be consistent. But this could be a positive as you may have a more flexible personal schedule, travel less, and enjoy a closer, more personal relationship with clients.
Salaries
Consultants play a fundamental role in all types of businesses, leading to generally high salaries and bonuses.
Here are some of the top-tier consulting positions with the highest average salaries you could land after your MBA, according to Indeed research:
Top Firms Hiring Consulting MBAs
If a successful career at a top consulting firm is your goal, here are the firms you should consider sending your application to:
US and Canada
According to Vault’s annual survey for 2019, the top 10 consulting firms in North America are:
Europe
Vault.com’s top 10 consultancy firms to work for in Europe are:
Asia
The equivalent top ten 10 for Asia is not dissimilar:
Best Countries for a Career in Consulting
Most of the world’s top consulting firms are located in North America – particularly the US – and Europe, with France and the UK at the forefront of the sector.
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